Georgia Community Association Manager (CAM) License Practice Exam

These questions are part of the practice quiz. Start practicing

• Which of the following refers to property that is movable in nature?
• What happens to a corporation's ability to carry over losses under IRS Form 1120?
• In adult-only communities, what is the minimum age for at least one resident of the dwelling?
• What is the primary role of the declarant in the formation of a condominium?
• What types of property can become part of a Homeowner Association (HOA)?
• What is the significance of property liens?
• Who is referred to as the grantor in a real estate transaction?
• Authority to bind the brokerage company means being able to?
• What is an important task that a Community Association Manager might perform regarding vendors?
• To voluntarily terminate a Condominium (GCA), what fraction of owners/mortgagees must vote in favor?
• Which of the following is NOT required on a deed to sell real property in Georgia?
• What is the first step to dissolve a community association?
• In regards to community associations, what does the term "covenant violations" refer to?
• What does a "charge back" to a unit or lot owner represent in the context of specific assessments?
• If a GCA/POAA lien is wiped out by a tax or lender foreclosure, what is one available option for the association?
• Which concept refers to a missed opportunity to enforce a covenant?
• Which duty entails making educated decisions in the best interest of the community?
• Which action permanently prohibits creditors from collecting certain debts from an owner?
• When is fidelity insurance required for a broker?
• What is typically included in the maintenance section of the Association Turnover Checklist?
• If a quorum is not maintained during the course of a meeting in an HOA, what is the implication?
• Which of the following can a broker NOT do without proper authorization?
• Which of the following is a necessary step to take after a majority approves dissolution?
• When are Officers typically elected in a community association?
• Which of the following is NOT one of the required documents for creating a condominium under the GCA?
• In which of the following categories is 'Handicap' protected under the Fair Housing Act?
• What does selective enforcement refer to in community associations?
• What must be true for a valid easement to exist?
• What does a Warranty Deed promise to the grantee?
• What document must be filed with the Georgia Secretary of State to create a corporation?
• Which of the following signifies a conflict of interest that directors and officers should avoid?
• When should a 1099 tax form be issued by the board?
• What is the course requirement for obtaining a CAM license?
• Which process is typically involved in the handling of association funds?
• Which of the following describes Public Encumbrances?
• What are the two required insurances for Georgia Community Association managers (GCAs)?
• What is the "term" of a contract?
• Which of the following is listed in the Articles of Incorporation for a condominium?
• How can a proxy-giver revoke their proxy?
• Which of the following is NOT a protected category under the Fair Housing Act?
• What must be done regarding the board of directors before the first unit is conveyed in a new condominium?
• Which of these is NOT a type of legal description?
• What is the primary responsibility of the Officers in a community association?
• What must be included in a Short Form Legal Description?
• What is the minimum coverage for fidelity insurance based on fund access?
• In accrual basis accounting, when is income recognized?
• What happens to a joint tenancy when one owner decides to sell their share?
• Which of the following is NOT included in a lien for assessments?
• What limitation is placed on debt collectors under the Fair Debt Collection Practices Act (FDCPA)?
• What is a critical aspect a proxy-giver should be aware of regarding valid proxies?
• What must be done with bylaws after they are adopted for a community association?
• Which of the following best describes 'Laches' in community association management?
• What is the minimum age requirement for CAM and salesperson candidates?
• Do members of a cooperative have ownership rights similar to those of homeowners in a traditional context?
• Which of the following is NOT a primary focus of the Fair Housing Act?
• At a meeting, what happens if both the proxy-giver and proxy-holder attend?
• What action should be taken if a vote does not pass?
• What occurs if a person dies without a will and no heirs exist regarding their property?
• What is required for a proxy to be valid according to the regulations?
• How is a vote passed according to the NPCC when a quorum is present?
• What information does "legal description of property" include?
• Which type of foreclosure does not require a lawsuit in Georgia?
• When was the Georgia Property Owner's Association Act (GPOAA) enacted?
• What must the Board of Directors do within 30 days after the beginning of the fiscal year?
• What is a Condominium defined by?
• Which task is commonly delegated to Community Association Managers?
• What defines zero-based budgeting?
• How many years does a lien last before it cannot be used for collection actions?
• How many proxies can a single proxy-holder typically hold for a meeting?
• What is the flat tax rate applied to the net amount of taxable income for Form 1120-H?
• What does JTROS stand for in property ownership?
• What aspect is NOT part of the condominium's legal description requirements?
• Who among the following does NOT require a license to provide CAM services?
• In what year was the Community Association Manager (CAM) created in Georgia?
• What must directors and officers prioritize according to the Duty of Loyalty?
• Who has the authority to elect the directors of a community association?
• What does a Quit Claim Deed imply about the grantor's title?
• In the event of a lien being wiped out, what can associations not collect for?
• What bookkeeping method do associations typically use?
• Which of the following steps is NOT part of the collection process for associations?
• What is NOT considered a characteristic protected under the Fair Housing Act?
• What provisions are typically included in the bylaws of a corporation?
• According to the NPCC, what is the required number of directors to conduct a meeting in an HOA?
• What is the term for a person’s living arrangements relative to age that is recognized by the Fair Housing Act?
• What is the primary purpose of recording a deed?
• What is the policy regarding developer turnover in a Homeowners Association (HOA)?
• What percentage of members usually must approve the dissolution of a community association?
• What is a Lien?
• What is the notice requirement for special meetings according to the GCA and POAA?
• What is the significance of the automatic statutory lien for GCAs and POAAs?
• What is the primary purpose of requiring fidelity insurance for brokers?
• During a board meeting, what is required for participants if a sensitive matter arises?
• What is the cost benefit of an examination of financial records by review compared to an audit?
• In a phased condominium project, when may the declarant lose rights to appointment of directors?
• What is required to approve a transaction involving a director with a conflict of interest?
• According to the GCA, what is the maximum amount a board of directors can impose for a special assessment without a vote from unit owners?
• What is the educational requirement for CAM, salesperson, and broker candidates?
• How long is a judgment lien, like a FiFa, enforceable from the date of judgment?
• If a director cannot disclose a conflict due to attorney-client privilege, what must they do?
• What does it mean if a proxy is considered "directed"?
• Which of the following is NOT a responsibility of a Community Association Manager?
• What action must an association take before suspending rights and services to a delinquent owner?
• In a Property Owners Association (POAA), what fraction of owners is required to vote in order to amend a covenant?
• Under what condition can owners in a GCA or POAA take control from the declarant?
• What is one scenario in which a meeting action can be challenged?
• What does Encroachment refer to?
• What factor does NOT contribute to the total amount of a lien?
• How many years can a corporation be administratively dissolved before reinstatement is no longer an option?
• What are Private Encumbrances concerned with?
• In a cooperative, what do members own?
• For an HOA's annual meeting, how much notice is required?
• Where are Recorded Deed records typically kept?
• If a member is ineligible to vote, can they give their proxy to someone else?
• In a management contract, what typically describes the need for brokers selling real estate in a managed community?
• Which document outlines the obligations of the community association management process?
• Which type of meeting is required to have notices sent out by the board?
• Who can serve as a proxy holder in a meeting?
• True or False: A declarant can appoint and remove directors of a single-phase condominium until 80% of the units are sold.
• Are boards required to send annual meeting notices to owners who are delinquent or in violation of the covenants?
• Which of the following is a responsibility of the Georgia Real Estate Commission?
• In a Chapter 7 bankruptcy, what is the result for the owner regarding pre-petition debts?
• What is the primary focus of cash basis accounting?
• What responsibility does the Secretary have concerning legal documents?
• What is one of the responsibilities of the Board related to the common areas?
• What should be done with written consent obtained outside of a meeting?
• Is it true that an owner can be charged a specific assessment for damage caused by driving into a POAA entrance sign?
• Most association bylaws typically state that board members shall:
• What is a fundamental aspect regulators look for in community association restrictions?
• What does the Georgia Real Estate Commission primarily protect consumers from?
• Who is referred to as the 'Top Dog of the Real Estate Ladder'?
• What defines limited common elements in a community?
• Can a new director be elected to fill a vacancy even if the board is not at quorum?
• Can a GCA charge a unit more than $5,000 for their deductible?
• Which of the following can perform Community Association Management (CAM) services without a license?
• A smaller deductible typically leads to which of the following regarding insurance plans?
• Which statement is TRUE about a dissenting director?
• What is the minimum requirement for a board member's presence during a meeting?
• How many days does a lien claimant have to record their lien after the last date of work performed?
• What is the role of a lien in terms of property sales?
• What is the role of officer reports in the annual meeting agenda?
• What happens if an association allows a violation to persist without action?
• Can a board member be considered present at a meeting if they cannot be heard by all others?
• If an annual or special meeting does not achieve quorum, which type of meeting is called?
• What is 'Eminent Domain'?
• What content must be included in the notice for an annual meeting of owners?
• How much notice is required for special meetings of the board of directors as per GCA and POAA requirements?
• What is one potential consequence of a director undermining the board's decisions?
• What percentage of voting power must be present for a member vote to be allowed on issues not included in the meeting notice?
• What is the typical agenda for an annual meeting of the owners?
• Community Association is to Broker as Principal is to?
• Can a licensed Community Association Manager provide services directly to their own community?
• What does "severability" in a contract refer to?
• Are GCA covenants considered perpetual, similar to a POAA?
• What must a member provide to request a copy of Easy Records?
• What is the minimum percentage of owners required to request a special meeting in a Georgia Community Association?
• In the context of budgeting, what does "justifying every dollar" mean?
• What type of gathering is held to spread information or answer questions about proposed actions?
• What does CAM stand for in the context of real estate in Georgia?
• What limitation is placed on creditors during a bankruptcy proceeding?
• Which legal concept is focused on the conduct of associations influencing property owners?
• What happens if declarants fail to pay property taxes on common property for two years or more?
• How many percent of the dwellings in adult-only communities must be occupied by someone who is 55 or older?
• CAM is to Broker as Agent is to?
• Are non-board members required to receive notice of board meetings?
• What type of debts remain the responsibility of an owner after a bankruptcy dismissal?
• After a lien is filed, how many days does the lien claimant have to file a lien action or risk expiration?
• What legal entity must be formed to operate a condominium according to the GCA?
• Which of the following describes the four rights of property ownership?
• What is one way for the board to address a dissenting director?
• How does a proxy holder's authority compare to the absent member's rights?
• What is one of the responsibilities of the Treasurer in a community association?
• What must be included in a proxy for a proxy-holder to transfer authority to another person?
• What must owners do to request an exemption from paying assessments in a POAA?
• Which documents are considered Easy Records for a community association?
• What is a primary purpose of maintaining an association's website?
• For GCAs and POAAs, which of the following is NOT a requirement for the lien process?
• What is the quorum requirement for owner meetings in a GCA and POAA?
• What must a covenant clearly establish to avoid being considered vague and indefinite?
• In the dissolution process, who typically adopts the plan of dissolution to distribute assets and liabilities?
• What must an association provide before foreclosing on a delinquent owner?
• How long do HOA covenants typically last before needing renewal?
• What is the tax filing deadline for community associations if their fiscal year aligns with the calendar year?
• What is the filing deadline for 1099 Forms with the IRS?
• Which document is necessary for selling personal property?
• Which concept describes the government's authority to take private property for public use?
• If there is a conflict between the broker and the association's directives, who has authority?
• What is a common requirement for restoring services in a Homeowners Association?
• How can a director be removed by the members?
• What is the term length for officers in a community association, unless specified otherwise in bylaws?
• As of July 1st, 1975, what must new condominiums in Georgia adhere to for regulation?
• True or False: The GCA's insurance covers personal belongings of the owner or upgrades they have made.
• How much notice must owners provide the declarant to "cure" certain failures before they can take legal action?
• What fundamental duty does a Community Association Manager perform?
• After the termination of a contract, how long does the broker have to return documents?
• What does the acronym FITFIL stand for?
• Which of the following describes Long Form Legal Description?
• Private restrictions on property can include which of the following?
• Which of the following is NOT a requirement for a GREC Qualifying Broker?
• In an HOA meeting governed by NPCC, what constitutes a quorum?
• For an HOA to be considered a corporation, what must they do?
• If there are 5 people on the board and 3 are present, is unanimous consent required for action?
• What is the consequence of sending a defective notice for a meeting?
• Which statement accurately describes the difference between the Board and the Officers?
• What determines a quorum for meetings in an HOA according to the NPCC?
• What type of property includes items like furniture, crops, and cut timber?
• How is a deed made valid or enforceable?
• What is the purpose of a proxy in a community association context?
• If a proxy-holder has not received instructions, how should they proceed?
• What is a key characteristic of Joint Tenants ownership?
• A director has a conflict of interest if they:
• What happens if a proxy-holder arrives after a meeting has been called to order?
• When does the declarant lose the right to appoint and remove directors in a One Phase condominium project?
• Who typically elects the first board of directors in a community association?
• What does real property include?
• What is required for a termination agreement to be valid when terminating a GCA?
• Which type of information should never be available for member inspection?
• What is one protected characteristic under the Fair Housing Act?
• What type of records are included in Hard Records for member access?
• What documentation should the board confirm during a review of record requests?
• What can happen if a board member misses specified meetings as outlined in bylaws?
• What does the term 'Police Power' refer to in real estate?
• Before inspecting Hard Records, what must the member confirm?
• How should the general assessment be calculated from the budget?
• Can a Property Owners Association (POA) or Homeowners Association (HOA) be established in a high rise building?
• Which task is typically handled by the Secretary of a community association?
• Does a Property Owner's Association (POA) need to file liens for unpaid assessments?
• How do members of a cooperative contribute to the upkeep of their property?
• If a community association decides to dissolve, what document must be filed with the Secretary of State?
• What is defined as the minimum number of people required to conduct official business in a meeting?
• How is income from member operations treated for tax purposes under Form 1120-H?
• Which of the following is considered a vague term in legal covenants?
• What legal principle denies an association the right to enforce covenants after inaction?
• How many days does a contractor have to respond after receiving notice of a defect?
• In the case of conflicting Association documents, which document has the highest authority?
• Who is responsible for the property's issues in a Limited Warranty Deed?
• Which categories represent the two types of property?
• Under the Right to Repair Act, how many days must an association give a contractor notice of a defect before filing suit?
• True or False: A lien must be paid at the sale of a property for a buyer and their lender to obtain a title insurance?
• Can a Georgia Community Association (GCA) adopt any architectural style?
• Which document is specifically required for establishing property boundaries in a condominium?
• What might be the worst result for an association at a foreclosure sale?
• What year was the Georgia Real Estate Commission (GREC) established?
• What is the required notice period for an annual meeting in a GCA or POAA?
• What is the purpose of stating the name and address of the grantee on a deed?
• What does the term 'turnover' refer to in community associations?
• What is a key characteristic of a cooperative in relation to ownership?
• What is the primary purpose of conducting business in an executive session?
• If board members are paid, should they also pay their association fees?
• In a Georgia community association, how do owners share interests in common elements?
• Under what circumstances is a director's assent to board actions considered valid?
• What is required for directors to pass a vote outside of a meeting?
• What must be true of covenants in a community association to ensure they are legally enforceable?
• What recourse is available if an owner does not comply with a post-judgment payment order?
• What is the role of a broker concerning the trust accounts held by their brokerage?
• Why must a CAM check with their broker before entering into a contract with another brokerage?
• What is the purpose of a financial records compilation?
• Which of the following is considered an example of an encumbrance?
• What must an HOA do to establish lien rights against a property?
• True or False: The first board of directors of an association is documented in the Articles of Incorporation.
• What does "attestation of witnesses" refer to in deed recording?
• What occurs if no quorum is present at an owners' meeting?
• What is the role of a Community Association?
• What are the primary responsibilities of the Board of Directors in a community association?
• What is a requirement for unincorporated payees regarding the 1099 Form?
• What happens if a member presents a challenge to the meeting notice but does not participate or vote?
• What fraction of the membership vote is required for an association to proceed with a lawsuit under the Right to Repair Act?
• Which of the following is NOT considered a related person to a director or officer?
• What documents must be included in the Association Turnover Checklist?
• How often should the board notify members about their rights related to records inspection?
• What happens to common elements if they are not part of a specific unit?
• What is a potential outcome if a third party purchases a property at a foreclosure sale?
• What might happen if a community association fails to pay its annual registration fees to the Secretary of State?
• In a Property Owners Association (POAA), how are liens treated compared to a Homeowners Association (HOA)?
• What defines a Limited Warranty Deed?
• What action can members take if the association refuses to let them inspect requested records?
• Who typically prepares the annual operating budget for the community association?
• What does the Duty of Care require from directors and officers?
• What is the significance of the consideration stated in a deed?
• As a Community Association Manager (CAM), what must you disclose to your real estate agent when selling your house?
• Which tax rate applies to corporations using Form 1120?
• How many members are there in the Georgia Real Estate Commission?
• Why might associations consider establishing a reserve account?
• How many votes are required to conduct a meeting in a GCA or POAA, unless specified otherwise?
• What is needed for board members to pass a vote during a meeting?
• Which of the following can be classified as a discriminatory practice under the Fair Housing Act?
• Which of the following is NOT a licensee type mentioned?
• What must a broker obtain before selling real estate in a community they also manage?
• True or False: Only condominium corporations are impacted by state laws regarding turnover processes.
• If an association needs more money than the budgeted general assessments provide, what action should they take?
• What duty must board members and officers fulfill according to the Nonprofit Corporation Code?
• What method is used to determine the need for a special assessment?
• What type of deed would offer the least protection to a buyer?
• What automatically becomes part of the common elements in a community association?
• How should a director resolve a conflict of interest?
• Which characteristic is included in the Fair Housing Act's list of protected categories?
• What must the written notification for Hard Records include?
• What is the statute of limitations for covenant violations in Georgia?
• What does the Business Judgement Rule (BJR) require from the board of directors?
• What generally needs to be recorded with a deed for it to be enforceable?
• Who determines the duties of a licensed CAM?
• True or False: A declarant may be exempt from assessments for the first 24 months if the declaration allows it, provided they pay the difference between fees assessed against other owners and actual common expenses.
• What must an exclusive management agreement with community associations include?
• What is the role of the qualifying broker in relation to a CAM?
• What type of proxy allows the proxy-giver to direct how the proxy-holder must vote?
• Which term describes a situation where an association inadequately acknowledges a chance to enforce rules?
• Which of the following can the Georgia Real Estate Commission do?
• What is a key responsibility of the Vice President in the context of a community association?
• What fraction of owners in a Georgia Community Association (GCA) must vote to amend a covenant?
• For members to request Hard Records, what must they demonstrate?
• Which professional title is typically responsible for the oversight of community property?
• If the board is unable to identify the signature on a proxy, what is their course of action?
• Which of the following is a requirement for a GREC Qualifying Broker?
• If an HOA passes an amendment with 65% of owners consenting, what percentage of owners must follow this new amendment?
• What is the main purpose of an Easement?
• What does a higher deductible generally imply about an insurance plan?
• What factor typically differentiates a Property Owner's Association (POA) from a Homeowner Association (HOA)?
• What is a requirement for suspending utilities for delinquent owners in a Georgia Community Association?
• What does a financial audit seek to verify?
• In the context of community association law, what does 'Estoppel' mean?
• What must happen if people start to leave a meeting after a quorum has been established in a GCA?
• What is the relationship between unit owners and the common elements in a condominium?
• What might happen after a lender foreclosure regarding the association's lien?
• Can a Property Owners Association (POAA) or Homeowners Association (HOA) charge more than $5,000 in a deductible to lot owners?
• Are copies, faxes, or emails of proxies considered valid?
• What is a necessary component of a condominium legal description?
• What is the typical duration of a proxy if not otherwise specified?
• What is a key benefit of having a reserve account?
• When obtaining a loan for an association, what is typically used as collateral?
• What is one reason an HOA might consider switching to a Property Owner's Association (POA)?
• Can a broker solicit business from another brokerage?
• What action must owners take to initiate a special meeting?
• What does a CPA do during a review of financial records?
• What percentage of owners is required to call a special meeting in an HOA according to the NPCC?
• What takes precedence in the context of GCA and POAA liens?
• What should the board do after receiving a request to inspect and copy records?
• What is one restriction on using the membership list without Board consent?
• What is the required majority for a vote to be passed at owner General membership meetings according to the NPCC?
• What document is required to sell real property?
• Does the condominium corporation in Georgia own any of the common elements?
• What is one of the primary roles of the President in a community association?
• When hired by a brokerage, is it necessary to notify the GREC?
• What triggers the calling of a special meeting in a community association?
• What occurs when a joint tenant dies under the JTROS concept?
• Which of the following is NOT a role typically played by members (owners) of a community association?
• Which of the following is NOT a duty of the Board of Directors?
• What should a proxy-holder do if they suspect the proxy is invalid?
• What is a primary feature of cash basis accounting that differentiates it from accrual accounting?
• Which action will automatically invalidate a proxy?
• What should the board do when encountering a sensitive topic in an open board meeting?
• Does a salesperson and CAM have any authority without a broker?
• How do Tenants in Common typically hold ownership?